European equities closed largely flat to lower on Thursday, as investors reacted to earnings and banking news and considered the implications of the European Central Bank's (ECB) newly launched quantitative easing (QE) program.

European equities extended losses to close sharply down on Tuesday, as the sell-off in U.S. stocks gained momentum, with investors spooked by the weakness in the price of oil, currency turmoil and ongoing negotiations surrounding Greece.

European equities dipped lower on Friday after strong U.S. jobs data and the markets digested the outcome of talks between Greece and Germany - the euro zone's largest economy -- over the future of its bailout program.